Asset Manager

Job Summary

KCHA is seeking an Asset Manager to support the Asset Management department in Tukwila, WA. This role oversees a portfolio of tax credit and/or bond-financed affordable housing properties, ensuring financial performance, physical maintenance, and compliance with IRS, HUD, lender, and KCHA requirements.

• Analyze the overall financial performance of affordable housing portfolios; develop and track property budgets and financial statements; create financial forecasts and evaluate actual performance versus projections on monthly, quarterly, and annual bases; complete regular and special reports as required including spreadsheets demonstrating portfolio analysis and cash flow projections.
• Direct property management companies to ensure compliance with partnership agreements, financing covenants and other legal and operational requirements; serve as a representative of the Authority to ensure portfolios adhere to the organization’s mission, policies, and initiatives; oversee cash flow operations to ensure projected incomes/losses are realized by the Authority and/or investors.
• Manage obligations pertaining to the organization’s role as general partner as mandated in tax credit limited partnership agreements; complete partnership audited financial statements and tax returns (K-1’s) and other general partner responsibilities; assist with tax-credit partnership exits as needed.
• Monitor and complete mandatory compliance reporting for local, State, and Federal agencies, bond and tax credit programs, additional funders, lenders, and limited partnerships.
• Inspect properties to ensure physical integrity, market competitiveness and desired street appeal; attend monthly property meetings; function as liaison and advisor to property management; make recommendations for needed improvements; determine plans for feasible implementation of improvements.
• Participate in cash management efforts, such as monthly operational funding, wire transfer authorization, replacement reserve and debt service funding, distribution of annual excess revenues and cash.
• Respond to tenant and/or building emergencies as needed; report emergency situations according to established procedure; address resident related complaints.
• Develop capital reserve for replacement schedules and coordinate the scheduling of capital improvement projects with the capital construction team.
• Make recommendations and implements procedures for improving internal operational efficiency; undertake special projects, such as sustainability initiatives or security enhancement measures.
• Attend professional development seminars and/or workshops to stay abreast of new regulations and legal guidelines related to tax credit compliance and other work-related issues.

• Bachelor's Degree in accounting, business administration, finance or closely related field AND
• Considerable experience in accounting, finance, property management, real estate management, or real estate development OR
• An equivalent combination of experience and education that provides the necessary knowledge, skills, and abilities to perform the essential functions of this position.

• Demonstrates knowledge of applicable federal, state regulations, and policies and procedures, with the ability to interpret and apply.
• Practical accounting experience and knowledge of GAAP with ability to apply relevant skills.
• Ability to explain complex or technical information regarding rules, rights, regulations, policies, procedures, programs, or services to answer questions, resolve problems, communicate decisions or actions.
• Understands technical aspects of the position and continuously builds knowledge, keeping up-to-date on the technical or procedural aspects of the position.
• Proficiency using Microsoft Office programs including Outlook, Word, Excel and other analytical software programs.
• Uses critical, creative, and reflective thinking skills to identify problems, analyze and evaluate various solutions, implement solutions, and monitor their effectiveness; ability to analyze data and resolve problems; sees…